Results for IRAs

It’s bad enough that we’ve been forced to bail out Wall Street. But now the Obama administration is hatching plans to raid our retirement savings, too.

To say that I’m "outraged" doesn’t come close to describing the emotions I experience every time I think about the government’s latest hare-brained scheme.

According to widespread media reports, both the U.S. Treasury Department and the Department of Labor plan are planning to stage a public-comment period before implementing regulations that would require U.S. savers to invest portions of their 401(k) savings plans and Individual Retirement Accounts (IRAs) into annuities or other "steady" payment streams backed by U.S. government bonds.

Folks, there’s only one reason these agencies would do such a thing – the nation’s creditors think that U.S. government bonds are a bad bet and don’t want to buy them anymore. So like a grifter who’s down to his last dollar, the administration is hoping to get its hands on our hard-earned savings before the American people realize they’ve had the wool pulled over their eyes … once again.

For the full details on the government’s newest financial gambit, read on…